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Posted November 6, 2018

Kennametal sales up 8 percent

Kennametal reported sales of $587 million for its fiscal 2019 first quarter, compared with $542 million in the prior year quarter.


Sales increased by 8 percent, driven by 10 percent organic growth, partially offset by a 2 percent unfavorable currency exchange impact. Sales grew in all segments and regions.

Net income of $56.7 million, or 68 cents per diluted share, compared to net income of $39.6 million, or 48 cents, in last year's first quarter.

Industrial segment sales of $321 million increased 8 percent from $297 million year-over-year, reflecting organic sales growth of 10 percent, partially offset by a 2 percent unfavorable currency exchange impact.

Widia sales of $49 million increased 8 percent from $45 million year-over-year, driven by organic sales growth of 11 percent, partially offset by a 3 percent unfavorable currency exchange impact.

Infrastructure sales of $217 million increased 9 percent from $200 million year-over-year, driven by organic sales growth of 10 percent, partially offset by a 1 percent unfavorable currency exchange impact.

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